Unsecured funding for businesses and professionals — no collateral, faster to arrange, priced accordingly.
An unsecured business loan trades cost for speed and simplicity. There is no property to pledge and no valuation to wait for, so it moves quickly — but because the lender has no security, the rate is higher and the tenure shorter.
It suits a genuine short-term need: an unusually large order, a seasonal stock build, a gap between billing and payment. It does not suit funding a long-term asset, where a secured loan will cost far less over its life.
We will say plainly when a secured route would serve you better. Arranging the expensive loan is easier for us; it is often not the right advice.
We would rather tell you a product is wrong for you than arrange the wrong one.
An incomplete file is the most common cause of delay. This is the usual list — we tell you exactly which apply to your case.
If a secured loan would do the job cheaper, we tell you before applying.
Average balance, returned cheques and cash-flow pattern matter more here than the balance sheet.
Approval criteria vary enormously. This is what decides both approval and rate.
Multiple simultaneous applications damage your score and reduce your chances.
Usually quick once the file is clean.
Most rejections are avoidable and have nothing to do with whether the business is sound. These are the ones we see most often.
What fixes it: Six clean months changes the outcome more than any other single factor.
What fixes it: Reconcile before applying; lenders check both.
What fixes it: Consolidate first, and approach one lender rather than several.
What fixes it: Most lenders want two to three years' trading. A secured route may be available sooner.
What fixes it: Cut-offs differ between lenders; a decline at one is not a decline everywhere.
With complete paperwork, one to three weeks is typical, and some lenders are faster. Delay almost always comes from documents rather than from the lender.
Because there is no security. If the loan is not repaid the lender has nothing to fall back on, so the rate reflects that risk. Where you can offer property, a secured loan will cost far less.
No. Promoters or directors normally give a personal guarantee, which is a personal obligation to repay but not a charge on a specific asset.
It is difficult. Most lenders want two to three years of filed returns. Newer businesses are usually better served by a CGTMSE-backed facility or a secured loan.
Usually yes, often after a minimum number of instalments and sometimes with a charge. We check the prepayment terms before you sign, because on a short loan they matter.
A free first meeting with our loan experts — an honest answer on how much you can borrow and which bank fits you best.